Article on 2012 Transfer Tax Exemptions And Spousal Lifetime Access Trusts

Parker F. Taylor (Associate, Greenberg Traurig) and Jason A. Lederman (Associate, Greenberg Traurig recently published their article entitled Cashing In on 2012 Transfer Tax Exemptions Using Spousal Lifetime Access Trusts.  The abstract is available below: 

Unless the law is changed, at the end of 2012, the favorable estate and generation-skipping transfer (GST) tax rates and the amounts sheltered from those taxes under the Tax Relief Act of 2010 will end and less favorable ones will be reinstated. In view of the potential increases in rates and reduction in shelters, clients should consider strategies to use their shelters during the remaining days of 2012 before up to $8,240,000 of transfer tax shelter potentially is lost forever.